Chen Yuhua signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) from Chen Xiao for approximately CNY 120 million on July 19, 2021. Under the terms of the transaction, Chen Xiao sold 4.6 million shares for CNY 27 per share. In a related transaction, Hainan Huazhen Ruiyuan Enterprise Management Consulting Center (Limited Partnership) signed a share transfer agreement to acquire 5.2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd. (SZSE:002760) from Chen Xiao for approximately CNY 120 million on July 19, 2021. Post-closing, Chen Xiao owns 2% stake in Anhui Fengxing Wear Resistant Materials Co., Ltd.